Focus on Lexus as probe into car market widens
Print Edition
CHINA’S anti-monopoly regulators are looking at Toyota Motor Corp’s luxury Lexus unit, the Japanese company said yesterday, as an investigation into foreign automakers widens.
The company is “cooperating fully with the queries from the authorities on Lexus,” said Toyota spokesman Naoki Sumino in Tokyo.
Authorities said earlier this week that Audi, which is Volkswagen AG’s luxury unit, and Fiat Chrysler Automobiles NV’s Chrysler brand would be punished for unspecified anti-monopoly violations. Mercedes Benz, the luxury brand of Daimler AG, has said it is under scrutiny and a government spokesman said regulators are looking at 12 Japanese companies in the auto industry.
Regulators have not disclosed the basis of their investigation. But customers complain prices of imported luxury vehicles and replacement parts are too expensive. Luxury cars in China can cost up to three times the price charged in the United States or Europe.
The headquarters in Japan of Nissan Motor Corp, owner of the Infiniti luxury brand, was unavailable for comment.
In an apparent effort to force down consumer prices, regulators have launched investigations of foreign auto, technology, pharmaceutical and dairy companies over the past two years using a 2008 anti-monopoly law.
The investigations are aimed at building a fair market, the China Association of Automobile Manufacturers said yesterday.
“These moves were taken in accordance with the Anti-monopoly Law and are expected to clean up the auto market and safeguard the legal interests of Chinese consumers,” it said.
Audi, Chrysler and Mercedes have announced pre-emptive price cuts of up to 38 percent for vehicles or replacement parts.
Yoko Suga, a spokeswoman for major Japanese components supplier Denso Corp, said: “We are not in a position to comment on anything related to any authorities’ investigation.”
Last year, five foreign dairy companies and one from Hong Kong were fined for setting minimum prices for distributors. Regulators said it interfered with market forces and forced consumers to pay higher prices.
Anti-monopoly regulators are also investigating Microsoft Corp; Qualcomm Inc, a California-based supplier of chips used by Chinese smartphone makers, and InterDigital Inc, of Wilmington, Delaware, which licenses technology patents.
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